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ADB's Outlook for Asia: Slowdown in Growth, Sharp Rise in Inflations
ADB launched the Asian Development Outlook 2008 Update on 16 September 2008. Developing Asian economies will experience a slowdown in growth and a sharp rise in inflation in 2008-2009. In this Update to April's publication, regional economic growth for 2008 is taken down marginally to 7.5%, largely on unstable financial markets and elevated commodity prices. Regional growth in 2009 is expected to further decelerate to 7.2%. Download the ADO 2008 Update, Listen to the podcast |
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Key ADB Study Offers New Way to Measure Poverty in Asia
In a report released on 27 August 2008 the Asian Development Bank (ADB) offers a new way to measure poverty in the Asia and Pacific region. A special chapter of Key Indicators 2008, the flagship annual statistical publication of the ADB, describes important methodological issues involved in generating internationally comparable estimates of poverty. Download the Key Indicators 2008
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ADB Appoints Zhao Xiaoyu as Vice-President, 14 August 2008
The Board of Directors of the Asian Development Bank (ADB), acting on the recommendation of President Haruhiko Kuroda, approved the appointment of Zhao Xiaoyu as Vice-President (Operations 1). He succeeds Jin Liqun who retired from ADB's service on 31 July 2008.
ADB Organizes Business Opportunities Seminars in Europe, September – October 2008
ADB is organizing Business Opportunities Seminars (BOS) in several European countries, including The Netherlands, 22 to 23 September, United Kingdom, 25 to 26 September, Sweden, 29 to 30 September, Ireland 2 to 3 October, and Finland, 7 October 2008. BOS inform the business community in ADB member countries of opportunities for involvement in ADB-financed projects. The BOS provide details to Prospective suppliers, manufacturers, and contractors of ADB procedures for procurement of goods and works and prospective consultants with ADB procedures for recruitment of consultants. Read more.
ADB Unveils Aid Package for Georgia, 13 September 2008
ADB is providing its first-ever public sector loan, $40 million, 32-year concessional loan, in the South Caucasus country of Georgia to help rehabilitate water supply, sanitation, waste management and road transport services, and rebuild other infrastructure that may have been damaged in the recent conflict with Russia.
Annual Development Cooperation Conference 2008* – Switzerland, 22 August 2008
Thomas Crouch, Deputy Director General, South East Asia Department, ADB, made a presentation on Structural change, trade channels, and multilateral cooperation, at the Annual Development Cooperation Conference in Fribourg, organized in collaboration with the Swiss State Secretariat for Economic Affairs. The theme of the conference was Switzerland's support for the Mekong Region in the context of food security and globalization issues. The conference was attended by about 1,500 delegates.
Asia Water Day Highlights Leadership Role in Solving Region's Water Problem, 19 August 2008
Inspired leaders who champion reforms, mobilize resources and involve communities can play a key role in helping Asia meet its many water and sanitation supply challenges, said Xianbin Yao, Acting Director General of ADB's Regional and Sustainable Development Department, spoke at the first ever Asia Water Day held in Stockholm during World Water Week. Mr. Yao said water resources in the rapidly growing region of over 4 billion people are coming under extreme pressure as a result of urbanization and industrialization, pollution, and climate-induced natural disasters. More details on Asia Water Day.
Former ADB President Tadao Chino Dies, 18 July 2008
Mr. Tadao Chino, former President the ADB, passed away in Tokyo, Japan, on Thursday 17 July 2008 at the age of 74. Serving as ADB President from 1999 to 2005, Mr. Chino steered ADB through a challenging period that included providing assistance to several developing member countries still suffering from the effects of the 1997-1998 financial crisis. "Mr. Chino will be sorely missed by this institution and the people who have known and worked with him. He was a strong voice for eradicating poverty and his influence continues to be felt today," said ADB President Haruhiko Kuroda, who also attended the funeral.
ADB Pledges Up to $1.3 Billion for Afghanistan, 12 June 2008
ADB pledged up to $1.3 billion in new assistance for Afghanistan at a donor conference in Paris in June 2008. ADB highlighted Afghanistan remarkable progress over the past seven years, but that the country remained the poorest in the Asia-Pacific region and renewed efforts were needed.
3rd High Level Forum on Aid Effectiveness, Accra, Ghana*, 2-4 September 2008
ADB has been an active member of the development community in supporting the efforts at global and regional levels towards enhancing aid effectiveness. The international community gathered on 2-4 September 2008 in Accra, Ghana, and committed to helping partner countries meet the Millennium Development Goals by 2015. President Haruhiko Kuroda participated and made a speech on South-South and Triangular Cooperation at a panel discussion on "The Unfinished Aid Effectiveness Agenda". ADB also presented a poster explaining it's role in helping developing members countries translate the Paris Declaration into local actions at the country level. Read more.
Providing Basic Social Protection Not a Question of Wealth, 14 May 2008
Even poor countries can afford basic social protection like financing health care, cash transfers to the poor, and elderly and child protection. That is one of the most striking results of the newly developed Social Protection Index (SPI) created by ADB and its partners. The index shows that the ability to provide appropriate social protection to a nation's citizens is not only a question of the country's wealth. Read more.
France and ADB Support Rural Infrastructure Rehabilitation in Viet Nam's Central Region, 25 October 2007
The cofinancing agreement between AFD and ADB for the Integrated Rural Development Sector Project in the Central Provinces of Viet Nam was signed on 3 September 2008. Estimated to cost $168.2 million, the project will receive a $90 million loan from ADB, and AFD will extend a $52 million loan and a $1.3 million grant for the project. The balance will be covered by the Government of Viet Nam.
The Nordic Development Fund and ADB Support Nepal's Melamchi Water Supply Project, 8 February 2008
The cofinancing agreement between the Nordic Development Bank and ADB was signed on 22 July 2008 for the Melamchi Water Supply Project in Kathmandu. This marked the first loan cofinancing from a financing partner to be fully-administered by ADB. Read more.
ADB, UN Jointly Implementing Projects in Lao PDR to Help Poor Farmers, 8 July 2008
ADB and the United Nations Office on Drug and Crime (UNODC) have joined forces to implement projects in the Lao People's Democratic Republic (Lao PDR) to help poor farmers adopt sustainable livelihood programs. ADB and UNODC have signed a memorandum of understanding (MOU) to strengthen cooperation in implementing an alternative livelihood project for upland ethnic groups and an alternative development project for poor former poppy farmers in the Houaphanh Province.
ADB, World Economic Forum and Private Sector Explore Ways to Boost Investment in Developing Asia, 18 June 2008
ADB and World Economic Forum (WEF) brought together leading private sector and development partners for a roundtable discussion to explore ways to catalyze private sector investment in developing Asia. The Financing for Development Roundtable, held at ADB Headquarters in Manila offered senior executives of private sector financial institutions the chance to interact with WEF and ADB's management on WEF's Financing for Development Initiative.
Luxembourg Contributes to Financial Sector Development Partnership Fund, 28 May 2008
The Government of Luxembourg is contributing an additional €184,543 (about $292,500) to the Financial Sector Development Partnership Fund, which supports efforts to strengthen regional, subregional and national financial systems in Asia and the Pacific. This brings Luxembourg's total commitments to the multi-donor fund to about $2.286 million.
Technical Assistance: Cofinancing from European Member Countries, May-August 2008
From May to August 2008, ADB's European member countries contributed $10.710 million grants to finance ADB technical assistance projects: Finland $550,000, France, $1,5 million, Switzerland $2,5 million, and United Kingdom $220,000. In addition, Austria, Norway, and Sweden provided $5,940 million grants through various trust funds for ADB technical assistance projects.
ADB Establishes Future Carbon Fund, 8 July 2008
ADB has established a new fund that will use carbon credits generated beyond 2012 to provide urgently needed financing for clean energy projects in the Asia-Pacific region. The current regulatory framework, based on the Kyoto Protocol's first commitment period expires on 31 December 2012, hampering the trading in post-2012 carbon credits. This would affect the level of interest in developing new clean energy projects and other climate change initiatives in developing countries.
ADB Funds Viet Nam Hydro Project, 26 June 2008
ADB will provide Viet Nam with a $196 million loan to construct a hydroelectric facility that will help ease growing power shortages that threaten the country's future economic growth. The 156-megawatt Song Bung 4 hydropower project will be built on the Song Bung River in central Viet Nam's Quang Nam province. Song Bung 4 is expected to be completed in 2013, and is the first hydroelectric project in Viet Nam to receive funding from a multilateral financing institution.
Bangladesh Vocational Education System Improvements to Increase Job Prospects,10 June 2008
ADB is helping thousands of unemployed and underemployed Bangladesh adults attain better wage and employment prospects by improving the country's technical skills training system. ADB has approved a $50 million loan for the Ministry of Education of Bangladesh to make its technical and vocational education and training (TVET) programs market-oriented, short-term, and relevant, especially for the poor who were not able to finish the eighth grade.
ADB to Help Develop Regional Disaster Risk Insurance Schemes, 18 September 2008
The Asian Development Bank is funding a project that will look at creating risk insurance schemes designed to improve the region's ability to cope with natural disasters. Read the Technical Assistance Report.
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New Asia-Pacific Network Launched to Tackle Water Problems, 26 June 2008
Twelve organizations including ADB from across the Asia-Pacific region launched a network to share solutions for improving water management to tackle the region's many pressing water challenges. The network, known as "KnowledgeHubs," is an initiative of the Asia-Pacific Water Forum, which was established in 2006 with support from Japan and ADB to promote leadership and boost investment in the water sector. |
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Emerging East Asia's Growth to Moderate as Inflation Threat Looms, Says ADB, 22 July 2008
Aggregate GDP growth in emerging East Asia will moderate to a still solid 7.6% in 2008 and 2009 from the 9.0% peak in 2007, due to the global economic slowdown, high food and energy prices, and continued financial market volatility. The July issue of the Asia Economic Monitor includes a special section on ways to deal with the region's heightened inflation. Download the Report.* |
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ADB Calls For New Focus On Asian Cities, 25 June 2008
The challenge of urbanization in Asia is unprecedented — some 1.1 billion people will move to cities in the next 20 years. Managing Asian Cities aims to provide a useful management resource, canvassing key issues and pointing managers to appropriate responses to problems; and, second, provide the initial step in a new phase of ADB's continuing support to Asian cities under its Strategy 2020. Details of the Report. |
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Pacific Nations Must Seize Opportunity to Prepare for Higher Food Prices, 8 May 2008
High oil prices are already a concern in the Pacific region, but the recent surge in world food prices has yet to be fully felt in the Pacific, according to a new Asian Development Bank (ADB) study, "Living with High Prices". This lag between developments in mainland Asia and retail outlets in the Pacific provides a small window of opportunity to prepare for high food prices, according to the study prepared by ADB to help regional governments manage the adjustment to high prices. Details of the Report. |
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SPECIAL REPORT: Food Prices and Inflation in Developing Asia, 5 May 2008
Food prices have increased sharply since mid-2007 and accelerated alarmingly in early 2008. Rice and wheat prices have spiked at levels not seen in over three decades. This threatens to exacerbate poverty in developing Asia by reducing the real incomes of the already poor, while pushing many others below the poverty line. Details of the Report. |
Recent ADB Management Speeches
President Haruhiko Kuroda
Vice-President Lawrence Greenwood
Vice-President Ursula Schäfer-Preuss
For other speeches, please visit the Speeches section of ADB's website.
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Portals on the ADB website
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Regular ADB Publications
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Contact
Asian Development Bank (ADB), European Representative Office
Rahmhofstrasse 2 - 60313 Frankfurt am Main, Germany
Telephone: (+49-69) 2193 6400, E-mail: adbero@adb.org
Antonio Andrea Monari, Resident Director General, amonari@adb.org
Sophia S. Y. Ho, Deputy Resident Director, ssyho@adb.org
Ara Y. Kazandjian, , External Relations akazandjian@adb.org
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